Denver, CO - area home resales up 20% in May from 2009

Denver-area home resales up 20% in May from 2009 - May completed sales of houses and condominiums increased more than 20% in the metro area, to 4,365, from the same month of 2009.  However, homes put under contract dropped roughly 27% to 3,883 year over year, partly because of the credits’ expiration.  “May really reflects a good month for resales,” said independent broker Gary Bauer, who’s also a Metrolist analyst.  “I like to use word normalizing to describe it, because that’s what our housing market is doing; it’s normalizing.”  Read full article:
http://www.bizjournals.com/denver/stories/2010/06/07/daily23.html?s=industry&i=resi_real_estate